Viceroy Resource (VOY-T) has begun drilling at the Gualcamayo project in the western Argentine province of San Juan.
The Vancouver-based producer has three drill rigs on the Quebrada del Diablo prospect, two of which are capable of drilling to depths of 400 metres. Also, a portable Winkie rig will be used to drill inclined and horizontal holes from more difficult access sites in the steep, rugged terrain.
The initial program carries a minimum budget of $1 million and will consist of at least 3,000 metres of diamond drilling.
Through its wholly owned subsidiary, Minas Argentinas (MASA), Viceroy can earn a 60% interest in the 2,630-ha Gualcamayo property from Mincorp Exploraciones by spending US$5 million on exploration over five years. Mincorp is a joint venture between Minorco (MNRCY-Q), an associate company of South African mining house Anglo American, and Argentine conglomerate Perez Companc.
The Quebrada del Diablo (QdD) prospect is a gold-bearing brecciated limestone unit in a limonitic and hematitic matrix. It was found exposed in the steep walls of a narrow canyon. Surface sampling at the base of the canyon yielded an average grade of 1.7 grams gold per tonne, based on 86 samples taken from accessible sites along a 600-metre section.
Follow-up sampling has confirmed the presence of widespread gold mineralization associated with brecciated limestones.
In preparation for drilling, road access was extended from the nearby General Belgrano adit into the QdD zone. General Belgrano was one of three areas where Mincorp had previously identified skarn-related gold mineralization. Viceroy reports that chip sampling of bedrock exposures along the recently completed road has identified widespread gold mineralization hosted in limestone and marble breccias, as well as altered feldspar porphyry.
Sampling along the road started 165 metres above the trace of the General Belgrano adit and extended into the canyon beyond the first proposed drill site for a length of 278 metres.
The road-cut averaged 2.39 grams over the first 106-metre section, followed by 0.45 gram over 60 metres, 2.9 grams over 62 metres (including a high-grade 2-metre interval of 34.9 grams), 0.17 gram over 18 metres and 2.17 grams over the final 28-metre section of road.
The reported road-cut intervals include minor sections that, because of overburden, were not sampled. Viceroy cautions that the sampling covers a curved portion of the road with a significant vertical component and does not represent true widths.
Also, limited sampling by Viceroy in the General Belgrano adit has confirmed the presence of gold mineralization associated with porphyry, veins and marble breccias.
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